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The Web3 Foundation, the organization responsible for funding Polkadot, has passed the milestone of 400 approved projects.
Since its launch in December 2018, the Web3 Foundation (W3F) has received hundreds of applications from projects looking to build the Polkadot ecosystem, and the Foundation has approved approximately 40% of these applications.
The Web3 Foundation’s mandate is not limited to Polkadot and its network of parachains, but it is where the majority of its investments have been made.
The Web3 Foundation has shared details of the projects approved so far to mark passing milestones in its grant program.
The foundation has revealed that 1,054 funding applications have been submitted and 415 have been approved. These projects vary widely in scope and include the entire web3 stack, from base layer to middleware to consumer applications.
The Web3 Foundation has funded projects ranging from wallets, development tools and APIs to smart contracts and UI development.
The foundation says 181 teams have completed at least one project and 300 have reached their first milestone.
At this stage of its life cycle, Polkadot is still primarily developer oriented. This is because parachains must be built and connected to other Layer 1s before deploying consumer apps.
Recipients of the Web3 Foundation’s funding are fairly evenly distributed around the world, with 14% of the team coming from the United States, 13% from China, 8% from Singapore, and countries such as Australia, Japan and Argentina. Many representatives are gathering.
Completion of 400 grants for Polkadot arrives at a busy time for blockchain on blockchain. A. governance Improvements are poised to improve the way on-chain decisions are made, while the launch of new staking and nominations has made staking DOT tokens easier. Dashboard.
The Web3 Foundation is proud of its latest milestone, noting that grantees are now working on “a wide range of decentralized use cases, including digital identity and privacy, IoT, gaming, data storage, finance, and more.” I am emphasizing.
Some blockchain developers are moving away from Solidity, which has well-documented limitations and security issues, but Polkadot’s architects hope Parity will prove its worth. I’m in.
The number of parachains built on Parity is growing rapidly, but there is competition from other next generation blockchains such as Sui and Aptos, which use the Move programming language.
Polkadot’s scalability and interoperability could fuel the Cambrian explosion of web3 applications that blockchain enthusiasts have come to expect.
